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European Stock Buys: Is Greece EU Drop-Out?

What European stocks make sense to buy amidst an EU financial nightmare? Let's look at BP p.l.c.ADS(BP), Novartis(NVS) and RWG AE(RWEOY).

There are demonstrations and strikes throughout Greece protesting European Union and International Monetary Fund pressure to drastically cut government spending in order to stabilize the economy. The airport has been shut down by air traffic controllers, shop keepers have closed their businesses and government services are slowing to a crawl as the public protests plans to increase taxes, cuts wages and freeze pensions.

Continue reading European Stock Buys: Is Greece EU Drop-Out?

Analyst downgrades: RWEOY, ASFI and TRID

MOST NOTEWORTHY: RWE AG, Asta Funding and Trident Microsystems were today's noteworthy downgrades:

  • Goldman lowered its rating on RWE AG (OTC:RWEOY) to Sell from Neutral. They believe shares are discounting high power prices for the long term and sees downside risk to earnings.
  • Kaufman Bros. downgraded shares of Asta Funding (NASDAQ:ASFI) to Hold from Buy to reflect the uncertainty surrounding the company's extension in reporting its Q4 and fiscal 2007 results.
  • Trident Microsystems (NASDAQ:TRID) was lowered to Hold from Buy at Roth Capital. Roth Capital's checks indicate low end TVs continue to outsell top tier LCD TVs, which could impact Trident's revenues.

OTHER DOWNGRADES:

  • Trane (NYSE:TT) was downgraded to Equal Weight from Overweight at Lehman.
  • Deutsche Bank downgraded Marshall & Ilsley (NYSE:MI) to Hold from Buy.
  • UBS downgraded Nestle (NSRGY) to Neutral from Buy.

Symbol Lookup
IndexesChangePrice
DJIA+85.3312,886.56
NASDAQ+26.342,930.22
S&P 500+9.361,352.00

Last updated: February 13, 2012: 02:55 PM

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